Economy and Finance
CDC Approves 113 Projects Worth US$2.3 Billion in First Eight Months of 2020
The Council for the Development of Cambodia (CDC) approved 113 investment projects in the first eight months of this year, 22 projects less compared to the same period last year. The approved projects have a combined investment value of US$2.3 billion, a 57.1% year-on-year decrease, according to the report of Cambodia economic trends from the […]
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Chinese Aviation Firm Mulls Investing in Cambodia
The State Secretariat of Civil Aviation has recently requested AVIC International Holding Corporation to provide technical assistance for human resource training in the civil aviation sector. In the meantime, the firm is also mulling investing in the aviation sector in Cambodia. The request was proposed during a meeting between the company’s general manager Ted Chen […]
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Infrastructure Development Sector Receives Third Largest National Budget Allocations
The Cambodian government has approved US$8.1 billion for 2021 public expenditure in 2021, of which infrastructure development sector received the third largest. According to outcome statement of the meeting chaired by Prime Minister Hun Sen, the Ministry of Public Works and Transport (MPWT) is at the top three receiving the most budget after the Ministry […]
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GDT Postpones Capital Gains Tax Collection to 2022
The General Department of Taxation (GDT) has decided to postpone the start of capital gains tax collection from 01 January 2021 to 01 January 2022 to give more time for taxpayers to learn and adjust, according to a GDT announcement on October 22. The decision was made based on a letter from the Ministry of […]
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Let’s Find Out! EP49: Real Estate Market Update in Q3
The Phnom Penh Real Estate Market in Q3 of 2020 remains under pressure from the COVID-19 pandemic. However, compared to other neighbouring countries, the Cambodian market shows the most significant recovery steps. What is the overview of the real estate market in the third quarter?
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KrisEnergy Receives Loan to Secure Scheduled Oil Extraction in Cambodia
KrisEnergy has reached a loan agreement with Kepinvest Singapore to secure oil extraction offshore of Cambodia as planned before the end of this year. According to the firm’s recent announcement, the US$87-million loan will be divided into two parts, with US$30 million to be used for facility A and another US$57 million to be used […]
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Real Estate Market Update in Q3 and Roadmap for Recovery
The Phnom Penh Real Estate Market in Q3 of 2020 remains under pressure from the COVID-19 pandemic. However, compared to other neighbouring countries, the Cambodian market shows the most significant recovery steps, according to a report from CBRE Cambodia. The same report also projects that due to the very low number of cases, thanks to […]
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GDT to Strengthen Property Tax Collection Amid 3.5% Tax Revenue Growth in Q3
The General Department of Taxation (GDT) will continue to strengthen property tax collection. This news comes as tax revenue in Q3 2020 has risen to over US$2 billion, according to the GDT quarter report on 12 October. The tax revenue collected by GDT has reached US$2.2 billion or equal to 78.1% of the annual plan. […]
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China-backed Dara Sakor Airport to Test First Flight Before March 2021
The controversial China-backed Dara Sakor Aiport in Koh Kong will run its first test flights before March 31, 2021, as construction is approaching completion, according to Minister of the Secretariat of Civil Aviation HE Mao Havanna during an official inspection from 10-12 October. During the inspection, the technical team reviewed the report from the Union […]
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ADB Revises 2020 Cambodia Growth Forecast Upward, Construction Sector Still at Risk
The Asian Development Bank (ADB) recently re-forecast Cambodia’s economic growth to rebound to 5.9% by 2021, yet the construction and garment sectors remain at risk. The Asian Development Outlook (ADO) 2020 Update also projected that due to the COVID-19 pandemic, Cambodian GDP would drop by 4% in 2020, which is better compared to the previous […]
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